Influenza vaccines are biological preparations designed to provide immunity against the influenza virus, commonly known as the flu. These vaccines are primarily utilized by individuals across various age groups, including children, adults and the elderly, to prevent seasonal influenza infections.
The influenza vaccines market consists of sales, by entities (organizations, sole traders or partnerships), of vaccines designed to protect against the seasonal influenza virus. These vaccines work by stimulating the immune system to produce antibodies that can recognize and fight off the virus. They are designed to protect against the most prevalent strains of the virus, which are updated annually based on predictions of circulating flu strains, making them a critical tool in preventing seasonal outbreaks and reducing the severity of symptoms in those who contract the virus.
The global influenza vaccines market was valued at $5,847.70 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.00%.
Expansion Of Vaccination Programs
Expansion of vaccination programs drove the growth of the influenza vaccine market during this historic period. Vaccination refers to the process of administering a vaccine to help the body develop immunity against a specific infectious disease. The expansion of vaccination programs are driven by their effectiveness in preventing the spread of infectious diseases, reducing healthcare costs and protecting vulnerable populations from serious illness and complications. The influenza vaccine plays a key role in the expansion of vaccination by providing a widely accessible and effective means of preventing seasonal flu outbreaks, helping to reduce illness, hospitalizations and the burden on healthcare systems. For instance, in October 2024, according to a report published by the European Commission, a European-based governing body, the European Commission has secured up to 4.2 billion doses of COVID-19 vaccines and as of August 2023, 84.8% of the EU adult population has been vaccinated at least once. Therefore, expansion of vaccination programs contributed to the growth of the influenza vaccine market.
Technological Advancement To Drive Innovation In The Influenza Vaccine
Major companies in the influenza vaccine market are leveraging technological advancements, such as the development of advanced Quadrivalent Influenza vaccines, to gain a competitive edge. These vaccines are designed to protect against four different influenza virus strains. For example, in March 2024, Cadila Pharmaceuticals Limited, an Indian pharmaceutical company, launched the Cadiflu Tetra Vaccine. This innovative product aims to significantly reduce the incidence of influenza, lessen the severity of the illness and curb the transmission of the virus. The Cadiflu Tetra Vaccine offers unique features, including quadrivalent protection, an enhanced immune response through its advanced formulation and a focus on improving community health by reducing virus transmission.
Sanofi SA was the largest competitor with a 36.60% share of the market, followed by Seqirus (CSL Limited) and GlaxoSmithKline Plc
Influenza Vaccines Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global influenza vaccines market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for influenza vaccines? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The influenza vaccines market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider influenza vaccines market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by vaccine type, by valency, by route of administration, by age group and by distribution channel.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the Russia-Ukraine war, impact of the COVID-19 pandemic and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the influenza vaccines market.
Global Market Size And Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by vaccine type, by valency, by route of administration, by age group and by distribution channel in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for influenza vaccines providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Vaccine: Inactivated; Live Attenuated; Recombinant
- 2) By Valency: Quadrivalent; Trivalent
- 3) By Route Of Administration: Injection; Nasal Spray
- 4) By Distribution Channel: Hospitals And Pharmacies; Government And Institutional Supply; Other Distribution Channels
- 5) By Age Group: Pediatric; Adult
- Companies Mentioned: Sanofi SA; Seqirus (CSL Limited); GlaxoSmithKline Plc; Daiichi Sankyo Co Ltd; Pfizer Inc
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia.
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; influenza vaccines indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.